{"id":213685,"date":"2021-03-29T15:22:53","date_gmt":"2021-03-29T12:22:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/stablecoin-reserves-on-crypto-exchanges-hit-new-historic-high-of-10b\/"},"modified":"2021-03-29T15:22:53","modified_gmt":"2021-03-29T12:22:53","slug":"stablecoin-reserves-on-crypto-exchanges-hit-new-historic-high-of-10b","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/stablecoin-reserves-on-crypto-exchanges-hit-new-historic-high-of-10b\/","title":{"rendered":"# Stablecoin reserves on crypto exchanges hit new historic high of $10B"},"content":{"rendered":"<p>&#8220;<strong># Stablecoin reserves on crypto exchanges hit new historic high of $10B <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Stablecoins like Tether (USDT) and USD Coin (USDC) have hit another milestone in terms of accumulation by exchanges.<\/p>\n<p>According to market <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1376414011554586628?s=20\">data<\/a> provider CryptoQuant, stablecoin holdings on global crypto exchanges soared to a new all-time high on March 28, exceeding $10 billion.<\/p>\n<p>Cryptocurrency exchanges are now holding nearly 16% of the total market value of all stablecoins, as stablecoin market capitalization amounts to $63 billion at the time of writing, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/stablecoins\">data<\/a> from CoinGecko. The total trading volume of all stablecoins is estimated at about $88 billion.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/4d3d1850-9b40-43e2-81dc-7e21d297225c.jpeg\"><figcaption style=\"text-align: center;\"><em>Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>According to CryptoQuant data, volumes of stablecoin holdings on exchanges have been repeatedly renewing all-time highs this year, surging more than 100% in two months. As previously reported, stablecoin inflows are often seen as a short-term indicator of bullish action for Bitcoin (BTC), suggesting that sidelined capital is moving back into BTC.<\/p>\n<p>Coupled with growing stablecoin accumulations, some other metrics like CryptoQuant\u2019s \u201cAll Exchange Stablecoin Ratio\u201d could potentially point at another upward move on crypto markets. Technical analyst Crypto Seer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crypto_seer\/status\/1376015685462020097?s=20\">noted<\/a>\u00a0on March 27 that the metric had reached its lowest level since November 2020.<\/p>\n<p>\u201cEach time this ratio has gone so low is marked by periods of significant strength for $BTC. The significant reduction in on exchange supply for BTC can be noticed here,\u201d he said. The metric <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dataguide.cryptoquant.com\/flow-indicators\/stablecoins-ratio\">indicates<\/a> BTC reserves divided by all stablecoin reserves held on exchanges, pointing to potential selling pressure.<\/p>\n<p>The latest stablecoin market milestone comes as payment giant Visa officially pilots its first settlement transaction in USD Coin on the Ethereum blockchain. USD Coin is the second-largest stablecoin pegged to the United States dollar following Tether.<\/p>\n<p>\u201cI smell crypto mass adoption here,\u201d CryptoQuant CEO Ki Young <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1376476790097514499?s=20\">said<\/a>\u00a0about Visa\u2019s move into USDC.<\/p>\n<p>According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1376473761470291976?s=20\">CryptoQuant<\/a>, USDC holdings on crypto exchanges now amount to over $2.2 billion, while its market cap is around <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/usd-coin\">$11 billion<\/a>.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/stablecoin-reserves-on-crypto-exchanges-hit-new-historic-high-of-10b\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Stablecoin reserves on crypto exchanges hit new historic high of $10B &#8221; Stablecoins like Tether (USDT) and USD Coin (USDC) have hit another milestone in terms of accumulation by exchanges. According to market data provider CryptoQuant, stablecoin holdings on global crypto exchanges soared to a new all-time high on March 28, exceeding $10 billion&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":213686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMDA4YjAyYzctYzU4ZS00ZDliLWIzMzEtYTYyNGI5ZjE3NTlkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,74863,74860,74891,75582,74889,75493,82350,77456,4965,36041],"class_list":["post-213685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ethereum","tag-fiat-money","tag-payments","tag-stablecoin","tag-usd-coin","tag-visa","tag-technology","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/213685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=213685"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/213685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/213686"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=213685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=213685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=213685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}